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Business News Deals Labels & Publishers
Universal buys Eagle Rock
By Andy Malt | Published on Wednesday 9 April 2014
Universal Music Group yesterday announced that it had acquired music film producer and distributor Eagle Rock Entertainment.
Under the deal, the terms of which are undisclosed, Eagle Rock will remain a standalone company, with CEO Terry Shand continuing to run it from its current London HQ. As well as gaining control of Eagle Rock’s catalogue of concert footage, documentaries and films, the mega-major will also use Eagle Rock’s team to create new video content for physical and digital releases.
Universal CEO Lucian Graige said of the deal: “As we continue UMG’s transformation to a music-based content company, expanding our audio-visual catalogue and production expertise is critical. We’re thrilled to welcome Terry and the Eagle Rock team to the UMG family. Terry has built Eagle Rock into a world-class content company and a leading force in distributing top music-based audio-visual programming”.
Shand added: “I am delighted to bring Eagle Rock into the UMG family and look forward to growing Eagle Rock in the coming years by producing more great content and benefiting from the digital revolution that is taking the audio-visual space by storm. I’d like to personally thank [Universal execs] Lucian Grainge, Boyd Muir and Max Hole for their vision and confidence, Beringea for their support over the last few years and Geoff Kempin, Simon Hosken and all the team at Eagle Rock for the tremendous work they have done to date and their dedication to the future”.
The deal also includes Eagle Rock’s audio recordings division, Eagle Audio, which operates the Eagle Records and Armoury Records. Universal has not, however, taken on the company’s publishing arm, Eagle-i Music, which remains a standalone company.
